Note 7 - Stock Based Compensation
|9 Months Ended|
Dec. 31, 2015
|Note 7 - Stock Based Compensation||
NOTE 7 STOCK BASED COMPENSATION
On July 23, 2015 the Company issued a total of 208,334 restricted stock units to key employees. The units vest 1/5 each year for 5 years, with the first vesting occurring on the date of grant. On October 30, 2015, the Company issued a total of 320,000 restricted stock units to the independent directors of the Company. Half of the units vested immediately with the remaining half vesting September 17, 2016. The Company estimates the fair value of the units at their intrinsic value at time of granting.
The Company recognized $666,450 and $1,031,300 in expense for the fair value of previously granted stock based compensation vested during the nine months ended December 31, 2015, and 2014, respectively. Stock compensation expense is recognized on a pro-rata basis over the vesting period of the equity awards. Subsequent to December 31, 2015, $1,513,347 of compensation expense on equity awards remains to be recognized in future periods. A summary of the status of the Companys stock option plans as of December 31, 2015 and March 31, 2015 and the changes during each period are presented below:
The following table summarizes information about the Companys outstanding stock options as of March 31, 2015:
The following table summarizes information about the Companys outstanding stock options as of December 31, 2015:
The following table summarizes information about non-vested options as of the nine months ended December 31, 2015:
The following table summarizes information about non-vested restricted stock awards as of the nine months ended December 31, 2015:
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
Reference 1: http://www.xbrl.org/2003/role/presentationRef